Technology has become a big part of life this year and even as things return to what is considered normal in some areas, many of those new practices we have been required to adopt will stay with us. There is always something to do when it comes to looking after a rented property and landlords and property managers are continually looking for ways to make managing that never-ending to-do list easier. Efficiencies in all areas of work and life can be found with developments in technology and property management is no exception.
It is generally accepted that an efficient property manager is one who is organised and technology has been developed to assist with optimising organisation and efficiency. A property inspection app can be used to coordinate all aspects of property management and it can be especially useful if you have more than one property to manage. Technology has become more than just a task management tool, and rather it is a foundation for the property management business.
So, how can you use technology to make your property management more efficient?
Coordinate and collate information
If you are managing properties on behalf of owners, or if you own more than one property, you can use an app to record information about each property, such as whether it has a tenant and if so, what their contact details are, rent amount, payment date and payment history. The app can also keep track of gas and electricity safety inspections to ensure they are up to date and can be booked in if another is required. This can be collated into a report by the app which can be shared with the landlord if this is part of the property management package they have arranged with
Communicate with tenants
Either when tenants are already in property or planning to move in, an app can be used for communication. Tenants can be given access to the app to track progress of their credit and reference checks when they are looking to move into a property. They can also access and electronically sign tenancy agreements or lease extensions via an app and use it to report maintenance issues. Rent payments can also be arranged electronically and many property owners now insist on being paid directly into their bank account.
Arrange maintenance and repairs
The app can be linked up to approved contractors to arrange maintenance and repairs for properties. If these contractors have apps or cloud-based systems of their own, booking, communication and subsequent reporting of completion and issue of relevant documentation can all potentially be carried out via the app. This can also be linked up with the tenant area of the app so that tenants can track when maintenance will be carried out, and if necessary, vacate the property or ensure they are home to allow the contractors access.
Electronic file storage
If the app is used to share and sign documents, then it can easily be linked with the cloud to store those documents. Time can also be usefully spent in scanning paper documents for live tenancies and uploading these to the app and the cloud to keep everything together.
As rent payments should be made electronically, they can easily be tracked through the app which will be able to produce reports for property owners to assist in preparing their accounts and tax returns. If maintenance is also arranged through the app, payment to contractors is likely to also be electronic, meaning that reports can not only be generated for income but for expenses too.
Remember to check out all of the amazing integrations available with InventoryBase – all designed to make your working life more streamline.